Graphics Interchange Format(GIF) is a bitmap image format that supports 8 bits per pixel, that is an image can have 256 distinct colors. One of the major advantage of using GIF is it gives animated formats of image. It does not have sounds, it has only animated images. This type of image can be compressed by using Lossless data compression technique which reduce the size without affecting the quality of the image.

JPEG stands for Joint Photographic Experts Groups. This image format is widely used all over the world. This is famous for its popularity and it also supports in every system. These can also be compressed using lossy compression technique which can easily be compressed to the required size with maximum attain of the quality.

PNG means Portable Network Graphics. This image has a special ability to be invisible ie where there is no image and it may have white spaces in other image formats where as this image becomes transparent. This is used to give best UI designs where the images can adapt to the themes the user want, Like dark mode or lite mode. Most of the logos are PNG file format.

WEBP is modern image format that supports transparency as PNG and also gives the effect of JPEG. Most of the websites now started to use WEBP format because it gives same quality as in much lower in size. WebP is still not supported by most of the browsers, many feedbacks are raised to include webp as a supporting image format by website developers.